abdmA question. Does TTV owe a duty of care to its shareholders...

abdm

A question.

Does TTV owe a duty of care to its shareholders when it does it's due diligence study of P1?

I ask this because I am wondering whether the valuation of P1 shares at 30 cents (P1 therefore capitalised at some $200-300 million) would withstand scrutiny by TTV's due diligence process?

On 12th March TTV announced that P1 was not able to scrape together the $700,000 its owed under and agreement with TTV. The reason given was that P1 had not yet listed - but why that was relevant I have no idea.

There is something I don't understand in all this.